{"id":13258,"date":"2023-02-02T12:42:00","date_gmt":"2023-02-02T12:42:00","guid":{"rendered":"https:\/\/atswins.ai\/blog\/jd-sports-new-ceo-schultz-announces-growth-plan\/"},"modified":"2023-02-02T12:42:00","modified_gmt":"2023-02-02T12:42:00","slug":"jd-sports-new-ceo-schultz-announces-growth-plan","status":"publish","type":"post","link":"https:\/\/atswins.ai\/blog\/jd-sports-new-ceo-schultz-announces-growth-plan\/","title":{"rendered":"JD Sports&#8217; New CEO Schultz Announces Growth Plan"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-body__context_widget__1xxEe article-body__element__2p5pI\">\n<div class=\"context-widget__content__1X4Oq\">\n<ul class=\"summary__summary__31feP\">\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">New CEO sees capex of 3 billion stg over 5 years<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">250-350 new store openings per year<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">10%+ increase in annual revenue<\/li>\n<li data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu summary__point__NO-2F\">Shares up 8%<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">LONDON (Reuters) &#8211; UK-based JD Sports (JDL) will invest up to $3.7 billion to open 1,750 stores over the next five years, new CEO Regis Schultz said. Stated. When retailer Athletic he plans to become a leisurewear &#8216;powerhouse&#8217;.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">Schultz, the former boss of French retailer Monoprix, took over FTSE-100 firm JD in September after a turbulent period leading to the ouster of longtime executive chairman Peter Cowgill in May.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">His expansion plans pushed JD&#8217;s shares up 8% to 177 pence in midday trading on Thursday, the highest in nearly a year.<\/p>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">With a market capitalization of \u00a38.4 billion, JD is comparable in size to UK retailer Next (NXT.L) and is worth almost three times as much as Marks &#038; Spencer (MKS.L).<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">JD, which sells Nike, Adidas and other sports fashion primarily to customers under the age of 30, will focus on adding new stores in the United States, France, Italy, Germany and Spain, Schultz said.<\/p>\n<div data-testid=\"Latest Updates\" data-variant-id=\"article-latest-updates\" class=\"spacing-container__container__2g5QT spacing-container__t-spacing-single__1uXb9 spacing-container__b-spacing-single__2RCDp spacing-container__max-width__zScFd\">\n<div>\n<h3 data-testid=\"Heading\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__heading_5_latest_updates__3MDLT heading__base__2T28j heading_5_latest_updates tablet-down-latest-updates__heading__Ymr1K\">latest update<\/h3>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__body__yKS5U body__base__22dCE body__body_alt__2kEQu tablet-down-latest-updates__show-more__20y2n\">Show 2 more stories<!-- --> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"tablet-down-latest-updates__arrow-down__3J5Sc\" viewbox=\"0 0 11 7\" aria-hidden=\"true\"><path d=\"M10.413.587a.71.71 0 0 0-1.027 0L5.5 4.474 1.613.587a.71.71 0 0 0-1.027 0 .709.709 0 0 0 0 1.027l4.4 4.4c.147.147.367.22.513.22a.79.79 0 0 0 .513-.22l4.4-4.4a.71.71 0 0 0 0-1.027h.001Z\"\/><\/svg><\/p>\n<\/div>\n<\/div>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">He wants JD Sports&#8217; market share in those regions to be above 10%. The group already has its market share in the UK, Ireland and Australia.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">According to JD, this represents an annual spending of \u00a3500m to \u00a3600m, with up to 60% opening 250 to 350 new stores each year in key regions.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">Acquisitions will also affect future growth, Schultz said, but JD Sports will remain more disciplined than before. Last year, under previous management, UK regulators ordered the company to sell Footasylum, which it had acquired, at a significant loss.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">\u201cAcquisitions are around European doors because we need more doors, and opening doors one by one in Europe takes longer than if we could buy existing doors,\u201d he said. rice field.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">The expansion should help JD Sports grow revenues by more than 10% annually over the next five years, with the group on track to achieve double-digit operating margins and generate \u00a31bn of cash annually over the period. I am also aiming for<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">Schultz dismissed concerns that JD&#8217;s business model could be threatened by Nike and Adidas trying to sell more products directly to customers.<\/p>\n<p data-testid=\"paragraph-11\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">\u201cBecause we are a lifestyle and a sport, we create something unique for Nike and all brands.<\/p>\n<p data-testid=\"paragraph-12\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" style=\"font-size:20px\">($1 = \u00a30.8142)<\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__PU3Aj\">Reported by Sarah Young.Editing by James Davey and Susan Fenton<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Our standards: Thomson Reuters Trust Principles.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMibGh0dHBzOi8vd3d3LnJldXRlcnMuY29tL2J1c2luZXNzL3JldGFpbC1jb25zdW1lci9qZC1zcG9ydHMtbmV3LWNlby1zY2h1bHR6LWxheXMtb3V0LWdyb3d0aC1wbGFucy0yMDIzLTAyLTAyL9IBAA?oc=5\" rel=\"nofollow noopener\" target=\"_blank\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] New CEO sees capex of 3 billion stg over 5 years 250-350 new store openings per year 10%+ increase in annual revenue Shares up<\/p>\n","protected":false},"author":1,"featured_media":13259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7],"tags":[],"class_list":["post-13258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-sports","two-columns"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/atswins.ai\/blog\/wp-content\/uploads\/2023\/02\/O7KTUOSCNFONFCRCBRISQ7FKVI.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/posts\/13258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/comments?post=13258"}],"version-history":[{"count":0,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/posts\/13258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/media\/13259"}],"wp:attachment":[{"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/media?parent=13258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/categories?post=13258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atswins.ai\/blog\/wp-json\/wp\/v2\/tags?post=13258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}